Behavioral Game Theory

Bounded Rationality, Real-World Deviations from Equilibrium

von Robert Geissler

158 Seiten, Taschenbuch

Kurzbeschreibung des Verlags

Every volume in this series so far has assumed players calculate perfectly. Real people reject free money, punish strangers at their own expense, and consistently fail to play the "correct" answer even when it's mathematically spelled out for them. This book is about what actually happens when rational-actor math meets real human beings.Behavioral Game Theory opens by naming a gap this series has flagged since Volume 3 and finally confronts it directly: Daniel Kahneman and Amos Tversky's Nobel Prize-winning prospect theory, and Herbert Simon's older, quieter insight that no real mind can optimize without limit. From there the book builds a genuine mathematical toolkit - quantal response equilibrium, which lets Nash equilibrium bend without breaking, and level-k thinking, which measures exactly how many steps of "I think that you think" real people actually perform before they stop.Then the theory meets the evidence. The ultimatum game, replicated across dozens of countries, shows people turning down free money to punish an unfair offer. The traveler's dilemma delivers this book's starkest result: a unique, provably correct Nash equilibrium that virtually no human being, however sophisticated, has ever actually played. Real trading records show investors selling winners and holding losers - exactly backward from optimal, and exactly what loss aversion predicts. And a chapter on emotion argues something genuinely surprising: that a hot temper, in the right strategic setting, can be a rational advantage rather than a flaw.The book doesn't conclude that eight volumes of game theory were wrong. Its own closing chapters show exactly how learning and evolution pull real behavior back toward the equilibrium predictions this series has built from the start - and exactly where that pull is weakest, setting up the series' final volume on the highest-stakes strategic arena of all.The ninth volume in a ten-book series tracing game theory from its founding proofs to its modern applications, written for readers of economics, psychology, and strategy - no advanced mathematics required.

• ISBN: 9798194461424
• Sprache: Englisch
• Erscheinungsdatum: 23.08.2026
• Größe: 229 x 152 mm
• Verlag: Amazon Digital Services LLC - Kdp